The most recent episode of Real Economy examines the Commission’s recently unveiled proposal for the reform of the EU’s fiscal rules. The episode features an interview with Paolo Gentiloni, Commissioner for Economy, who explains the approach adopted by the Commission in its proposals.
The Commission has signed contribution agreements with Iceland and Norway under InvestEU, making them the first non-EU countries participating in the programme. Icelandic and Norwegian project promoters will now be able to apply directly with implementing partners of the InvestEU Fund to receive financing, backed by the programme.
Portugal has submitted a request to the Commission to modify its recovery and resilience plan, to which it also wants to add a REPowerEU chapter. Portugal's proposed REPowerEU chapter includes 6 reforms and 18 investments, focusing on energy efficiency in buildings, renewables and biogas, sustainable transport, the electricity grid and green industry.
Denmark has submitted a request to the Commission to add a REPowerEU chapter to its recovery and resilience plan. It includes one new reform and one new investment to deliver on the REPowerEU objectives. Two existing investments are also being scaled up.
Spain has submitted a request to the Commission to modify its recovery and resilience plan, to which it wants to add a REPowerEU chapter. Spain's overall proposed modifications would add 18 reforms and 25 new or scaled-up investments, and amount to over €95 billion in additional RRF funding.
"We can be proud of the very strong impact SURE had in helping European workers and firms get through the pandemic crisis. This final report shows clearly how such common instruments can strengthen the resilience of our societies and economies in the face of shocks."
A report on the implementation and impact of the SURE instrument shows that it was crucial in both mitigating the impact of the pandemic in 2020 and facilitating the swift economic rebound in 2021, which was faster than in previous crises. In 2020, SURE supported about 31.5 million employees and self-employed people and over 2.5 million businesses.
The Article 126(3) report assesses 16 Member States' compliance with the deficit and debt criteria of the Treaty.
The 2023 country reports take stock of the specific socio-economic challenges in every Member State and outline to what extent these are being addressed in the countries' recovery and resilience plans.
The Annual Research Conference is the European Commission’s flagship research forum that brings together leading researchers working on economic policy design at European and national levels. Researchers are invited to submit papers by 31 May 2023. The authors of selected papers will be invited to attend the conference in Brussels on 13-15 November.
The European Investment Fund (EIF), backed by the InvestEU programme, has provided UniCredit Group with two guarantees worth €370 million to boost investments carried out by small and medium-sized businesses (SMEs) in Bulgaria, Croatia, Czechia, Hungary, Romania, Slovakia, and Slovenia.
This third payment request relates to 39 milestones and three targets. They cover investments in electromobility and charging infrastructure for electric vehicles, the launch of projects relating to energy-efficiency renovations in residential buildings, the digitalisation of public administration, and the uptake of fiber optic infrastructure in buildings.
The payment of €542 million was made possible by Lithuania's fulfilment of 31 milestones linked to the first instalment. They cover key reforms in the areas of the green and digital transition, education, innovation and science, social protection and employment.
The Commission has today made a fourth payment of €1.5 billion under the Macro-financial Assistance (MFA)+ package for Ukraine, worth up to €18 billion. With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023.
The Commission has provided guidance to Member States to build a robust and future-proof economy that secures competitiveness and long-term prosperity for all in the face of a challenging geopolitical environment.
"We must remain vigilant - and stand ready to respond to any future shocks with the same unity and determination that saw us through these past three stormy years."
The European economy continues to show resilience in a challenging global context. This better-than-expected start to the year lifts the growth outlook for the EU economy to 1.0% in 2023 and 1.7% in 2024.
